Research shows 64 per cent of electricity customers want the choice between Time-of-Use and tiered pricing
TORONTO, Oct. 13, 2020 /CNW/ - To support the Government of Ontario's direction to allow customers to opt out of Time-of-Use (TOU) pricing, Hydro One has launched an online portal to make it easy for customers who want to make the switch to tiered pricing. No action is needed by customers who want to remain on TOU pricing. To switch to tiered pricing, Hydro One customers can fill out a form at hydroone.com/customerchoice.
"Hydro One will always stand with customers and communities and we are pleased to offer and support choice," said Mark Poweska, President and CEO, Hydro One. "We will also continue to provide support to those who are struggling during this difficult time through our pandemic relief fund, which offers financial assistance and flexibility."
Research conducted by Innovative Research Group on behalf of Hydro One shows that 64 per cent of electricity customers want the ability to choose their pricing plan. Research also showed that 52 per cent of customers in Ontario do not want to be automatically transitioned to a new pricing structure – they want to be provided with the option to choose for themselves.
As part of its commitment to being a trusted energy advisor, Hydro One is assisting customers with making an informed decision. The company has provided a calculator on its website to help customers choose which pricing plan best suits their lifestyle.
Hydro One customers can monitor their electricity use through the company's MyAccount portal. The company also provides flexibility and assistance in managing household budgets by providing customers the ability to choose their own billing due date and flatten usage spikes from temperature fluctuations through balanced billing. Hydro One remains committed to supporting customers through its Pandemic Relief Fund that offers payment flexibility and financial assistance.
Hydro One Limited (TSX: H)
Hydro One Limited, through its wholly-owned subsidiaries, is Ontario's largest electricity transmission and distribution provider with approximately 1.4 million valued customers, approximately $27.1 billion in assets as at December 31, 2019, and annual revenues in 2019 of approximately $6.5 billion. Our team of approximately 8,800 skilled and dedicated employees proudly build and maintain a safe and reliable electricity system which is essential to supporting strong and successful communities. In 2019, Hydro One invested approximately $1.7 billion in its transmission and distribution networks and supported the economy through buying approximately $1.5 billion of goods and services. We are committed to the communities where we live and work through community investment, sustainability and diversity initiatives. We are designated as a Sustainable Electricity Company by the Canadian Electricity Association. Hydro One Limited's common shares are listed on the TSX and certain of Hydro One Inc.'s medium term notes are listed on the NYSE. Additional information can be accessed at www.hydroone.com; www.sedar.com or www.sec.gov.
Forward-Looking Statements and Information:
This press release may contain "forward-looking information" within the meaning of applicable securities laws. Words such as "expect," "anticipate," "intend," "attempt," "may," "plan," "will", "can", "believe," "seek," "estimate," and variations of such words and similar expressions are intended to identify such forward-looking information. These statements are not guarantees of future performance or actions and involve assumptions and risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed, implied or forecasted in such forward-looking information. Some of the factors that could cause actual results or outcomes to differ materially from the results expressed, implied or forecasted by such forward-looking information, including some of the assumptions used in making such statements, are discussed more fully in Hydro One's filings with the securities regulatory authorities in Canada, which are available on SEDAR at www.sedar.com. Hydro One does not intend, and it disclaims any obligation, to update any forward-looking information, except as required by law.
Our website is www.HydroOne.com. Follow us on facebook.com/hydrooneofficial, twitter.com/hydroone and instagram.com/hydrooneofficial
SOURCE Hydro One Inc.
